Gelatin Market To Exhibit Growth At A CAGR Of 5.3% From 2016 To 2024: Grand View Research, Inc.

February 0513:222018

Grand View Research, Inc. – Market Research And Consulting.

According to new report published by Grand View Research, the global gelatin market is expected to reach USD 4.08 billion by 2024. Gelatin is a food derived from collagen, which is obtained from animal skin and bones.

The global gelatin market is estimated to reach a valuation of USD 4.08 billion by 2024, states a report by Grand View Research, Inc. Gelatin is a food derived from collagen, which is obtained from animal skin and bones. Animal sources include fish, cattle bones, pig skin, and bovine hides. Collage-based supplements are essential for repairing muscle and improving bone strength. It can make up for any deficits caused by aging, hormonal changes, overwork, and alcohol use. Bovine-based collagen supplements are used in treating osteoarthritis and improving gut health.

The gelatin market is estimated to touch 651.7 kilotons in terms of demand by 2024, exhibiting a 5.3% CAGR from 2016 to 2024. This growth can be attributed to the superior binding characteristics and application of gelatin in food & beverage and pharmaceutical sectors. The demand for convenience foods from economies such as the Middle East, China, and India is expected to drive the market over the forecast period (2013 to 2024). However, the presence of polysaccharide as a viable substitute for gelatin may pose a threat to market growth.

The source of gelatin has received a sharp reaction from religious groups such as Jewish and Muslim and strict vegetarian groups. In order to appease their concerns, manufacturers are focusing on research and development to produce gelatin from natural sources. For instance, Triskelion B.V., a Dutch company, has developed the Liquid chromatography–mass spectrometry (LC-MS) method to identify the source of gelatin in 2017. This method is expected to bring transparency required by the consumers. In addition, manufacturers are also specifying the source of gelatin on product labels due to the rising preference for clean label ingredients. This is also evident in the new strategy adopted by Rousselot S.A.S.

The global gelatin market is segmented by raw material, function, application, and region. By raw material, the market is divided into cattle bones, bovine hides, pig skin, and others. On the basis of function, the market is fragmented into gelling agent, thickener, stabilizer, and others. Major market applications include food & beverages, nutraceuticals, personal care, photography, pharmaceuticals, and others.

Key regions covered in the market report include North America, Latin America (LATAM), Asia Pacific (APAC), Middle East and Africa (MEA), and Europe. Europe dominated the gelatin market in 2015, accounting for 42% of global revenue. Rising awareness of nutritional ingredients among consumers in France, Germany, and the United Kingdom (U.K.) is expected to positively impact market growth over the forecast period. In addition, the use of gelatin as a gelling agent is projected to benefit the food & beverage sector in Germany and France and stimulate regional market growth.

The North America market accounted for 24.4% market volume in 2015. This can be attributed to presence of well-known companies such as Cargill and Tyson Foods and their access to technologically advanced equipment. High disposable income of consumers in the region can also be credited as a contributing factor for market growth over the forecast period. The trend of humanization of pet foods is also predicted to impact market growth.

The APAC market is predicted to expand at a 6% CAGR from 2016 to 2024 due to growing healthcare tourism in Malaysia and Thailand. The India market is expected to garner high demand in near future due to availability of raw materials and demand for gelatin from processed food and healthcare sectors. Similarly, the China market is anticipated to gain a windfall due to discovery of donkey skin as a new source of gelatin.

Prominent players in gelatin market include Nitta Gelatin Inc.; Rousselot S.A.S.; Weishardt International; Roxlor LLC; and Catalent, Inc. Partnerships and new product launches are some of the strategies being employed by these players to capture a large share of the market. For instance, Geltor, Inc. is programming microorganisms to produce collagen from organic sources in 2017. Although on a small-scale, the company plans to scale its operations in the next five years.

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.